In the first three weeks of July, Kazakhstan recorded a 0.1% decrease in the average price index for socially significant food products (SSFP) for the first time since the beginning of the year. To consolidate the deflationary trend, the government will activate tariff and logistics subsidy mechanisms for producers. This was reported by Qazaqyia.kz citing Kursiv Media.
Annual inflation in the country fell to 10.3% in June (compared to 10.4% in May). At the same time, inflation exceeds the national average in 11 regions. The worst indicators were recorded in Zhetysu and Ulytau regions, as well as in North Kazakhstan and Akmola regions.
The food market shows mixed dynamics. Due to seasonal factors, a sharp decline in vegetable prices was recorded: cucumbers fell by 18.2%, tomatoes by 15.1%, carrots by 5.2%. Eggs fell by 2.4%. At the same time, meat products continue to rise in price: lamb rose by 2%, horse meat by 1.3%, minced meat by 0.6%.
To stabilize the cost of basic food products, the Cabinet of Ministers approved a package of economic incentives for businesses. JSC NC Kazakhstan Temir Zholy provides a 70% discount on railway transportation of SSFP within the country. For 40 enterprises in the baking industry, a preferential electricity tariff is being introduced to reduce costs.
By the end of this year, three new vegetable oil refineries will be commissioned to saturate the domestic market. In exchange for receiving state support, local executive bodies are obliged to monitor the fulfillment by businesses of counter-obligations to prevent price increases.
Against the backdrop of rising livestock product prices, Deputy Prime Minister Serik Zhumangarin ordered a detailed audit of the meat market, comparing production volumes, domestic consumption and exports.
Relevant departments have been instructed to analyze the entire supply chain for each case of significant price increases, involving major importers and wholesalers. Similar systematic control will be established in the markets of non-food products, paid services and higher education.
Recall that the Ministry of Trade expanded the list of SSFP from 19 to 31 items. The updated list includes: first-grade wheat flour, molded wheat bread from first-grade flour, pasta, buckwheat, round-grain polished rice, potatoes, carrots, onions, white cabbage, tomatoes (except cherry and grape varieties), cucumbers (except gherkins), apples, granulated sugar, sunflower oil, beef with and without bones, minced meat, lamb, horse meat, fresh, chilled and frozen fish (bream, crucian carp, pike perch, carp and sazan), chicken thighs, drumsticks and legs, chicken carcasses, milk with fat content from 2.2% to 6%, kefir with fat content 2-3%, sour cream, cottage cheese with fat content 5-9%, hard and semi-hard cheese with fat content 40-50%, butter with fat content from 72.5% to 80%, first-category chicken eggs, black tea without flavorings (except bagged), and table salt (except Extra grade).